Jio Financial Services Ltd, which was carved out from Reliance Industries Ltd and listed on the stock exchanges last year, said net profit rose 3 percent to Rs 689 crore for the quarter ended September 30.
Revenue increased 14 percent to Rs 693.5 crore in the fiscal second quarter ffrom Rs 608 crore in the year earlier, according to a regulatory filing by the company on October 18.
On October 18, shares of JFSL on BSE closed trading marginally higher at Rs 329.6 apiece.
JFSL and BlackRock, the world's biggest asset manager, have announced ventures to start asset management and broking businesses in India.
Days after its demerger from Reliance Industries in July 2023, the company had announced the formation of a 50:50 joint venture with BlackRock to launch asset management services in India.
Recently, the companies got approval of SEBI to act as co-sponsors and set up a mutual fund business in India.
Disclaimer: Moneycontrol is part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.
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